LINE Announces Plan to Launch Cryptocurrency Exchange BITBOX in July Enabling Trading Globally Except in Japan and the U.S.

Handling at least 30 different cryptocurrencies such as Bitcoin and being ready for 15 languages except Japanese

TOKYO – June 28, 2018 – LINE Corporation (“LINE”) and LVC Corporation (“LVC”), a LINE group company operating its cryptocurrency and blockchain businesses, announced today the plan to launch BITBOX, a cryptocurrency exchange available globally except in Japan and the U.S. (*1) through LINE Tech Plus PTE. LTD. (a Singapore-based company under both LINE and LVC) in July 2018.

*1 LINE will engage in the cryptocurrency business in compliance with rules and regulations of respective countries on cryptocurrency trading. LINE strives to create and provide innovative financial services unique to LINE in order to close the distance between people and money.

Cryptocurrency exchange BITBOX is launching as part of LINE’s financial services business, providing services globally except in Japan and the U.S. 30 or more cryptocurrencies can be exchanged in BITBOX, and it will support 15 languages excluding Japanese. BITBOX only allows the exchange of cryptocurrencies, and does not accept exchange between fiat money and cryptocurrencies.

With the need to trade cryptocurrencies rising around the world, LINE has been preparing to provide opportunities for users to do so securely, and as the secure system is in place now, the company will be offering the service.

■ Service Outline of “BITBOX”

・Service launch: July 2018 (Tentative)

・Available countries: Countries except Japan and the U.S.

・Intended users: The service is not intended for residents of Japan, Japanese nationals residing outside Japan and residents of the U.S. IP addresses, telephone numbers and KYC (*2) will be used to preclude unintended users.

・Supported languages: Fifteen languages including English and Korean (note: Japanese and Thai are not supported).

– Opening commemorative campaign: A zero trading commission campaign is being planned for new BITBOX users for a month from the launch date.

*2 An acronym for “Know Your Customer” (personal identification), a requirement for an entity wishing to open a bank account to submit personal or corporate information documents. This is intended to prevent the account from being used for money laundering purposes by opening the account as that of a fictitious person or corporation.

*3 The term ”spread” refers to a difference between buying and selling prices that occurs mainly at the time of so called over-the-counter trade, one-on-one coin trading between the user and the cryptocurrency exchange.

LINE will continue to transform all users’ financial experience by providing friendly and innovative financial services to close the distance between people and money. As the society heads toward cashless and wallet-less future, LINE will be actively involved in undertaking initiatives and creating systems to accelerate the development of its businesses and reinforce its services as it strives to become a leader in the FinTech business.